SunPower (NASDAQ:SPWR) Shares Up 5.5%

Shares of SunPower Co. (NASDAQ:SPWR) shot up 5.5% during mid-day trading on Friday . The stock traded as high as $3.14 and last traded at $3.06. 5,476,958 shares were traded during trading, a decline of 32% from the average session volume of 8,092,285 shares. The stock had previously closed at $2.90.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Guggenheim lowered SunPower from a “neutral” rating to a “sell” rating in a report on Friday, February 16th. Evercore ISI lowered their price objective on shares of SunPower from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Raymond James downgraded shares of SunPower from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Jefferies Financial Group assumed coverage on shares of SunPower in a report on Friday, December 15th. They issued a “hold” rating and a $5.50 price target on the stock. Finally, StockNews.com raised shares of SunPower to a “sell” rating in a research note on Saturday, December 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.43.

SunPower Price Performance

The firm has a 50-day simple moving average of $3.51 and a 200 day simple moving average of $4.76. The company has a market capitalization of $534.85 million, a PE ratio of -2.26 and a beta of 1.74.

Institutional Trading of SunPower

Large investors have recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of SunPower by 205.7% in the first quarter. US Bancorp DE now owns 4,106 shares of the semiconductor company’s stock worth $88,000 after buying an additional 2,763 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in SunPower by 13.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,200 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 1,479 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in SunPower in the first quarter valued at about $209,000. PNC Financial Services Group Inc. raised its stake in SunPower by 66.9% during the first quarter. PNC Financial Services Group Inc. now owns 4,469 shares of the semiconductor company’s stock valued at $96,000 after buying an additional 1,792 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in SunPower by 7.5% during the 1st quarter. Bank of Montreal Can now owns 29,987 shares of the semiconductor company’s stock worth $628,000 after buying an additional 2,090 shares during the last quarter. Institutional investors and hedge funds own 47.36% of the company’s stock.

SunPower Company Profile

SunPower Corporation, a solar technology and energy services provider, offers solar, storage, and home energy solutions primarily in the United States and Canada. Its solutions include the Equinox and SunVault systems which are pre-engineered modular solutions for residential applications that combine solar module technology with integrated plug-and-play power stations, cable management systems, and mounting hardware that enable dealers and installers to complete system installations, as well as for end customers to manage their energy production.